Meet Nuno Godinho, CEO at Industrial Thought Ltd

Tell us about ITL

Industrial Thought Ltd. is the parent company for a group of companies shaping the future of financial services, starting with wealth and asset management. Backed by the group’s collective expertise, we want to unleash the full potential of a socially responsible and sustainable circular economy through managing and investing in the world’s most innovative businesses.

Our group currently comprises:

• FSL, which provides specialist investment tax solutions that simplify the process of management, analysis, and reporting.
• Raw Knowledge, a specialist data provider for the wealth management industry.
• Thought Train, a rapid proof-of-concept company focused on financial software development.
• Thought Ventures, a venture builder and incubator which invests in trailblazers for a sustainable circular economy.

We want to be a strategic partner for the industry by empowering stakeholders with cutting-edge products and insights that reduce risk, enhance their capabilities, and support their digital transition. Innovation and collaboration are key drivers of success, particularly in times of rapid change and uncertainty, like today.

As our industry moves towards the next stage of its evolution, driven by digital transformation, personalisation, sustainability, and impact investing, we are committed to leading the charge. Only by embracing new trends, learning from other industries’ digital transformation experiences, and leaving our comfort zone, can we set the stage for the future to deliver exceptional experiences for our clients. And we are strongly committed to leaving a legacy of innovation and collaboration that will benefit future generations.

What do you think makes this group unique?

We’re fortunate to have a deep knowledge of the industry as a whole. Our joint capabilities combine specialist tax solutions, bespoke data, proof-of-concept testing, and the ability to nurture future innovators by providing financial investment and support.

We also have a strong understanding of the macro-level impacts, trends, threats and opportunities. We are clear about what a successful future should look like, leveraging lessons from other sectors like retail, banking, and healthcare.

Crucially, we realise that nobody can do everything, so we have a strategic partnership approach. We want to collaborate with other industry providers, even cross-industry providers, to achieve our goals. Our mantra is “creating powerful partnerships for tomorrow’s world.”

How has the group evolved over the last couple of years?

Our background started in 1994 with FSL, the company which created CGiX and has been driving innovation in wealth management technology ever since. Industrial Thought Ltd. was established as a group in 20134 to innovate in other areas like data, excess reportable income, tax reporting, scenario planning (tax & ESG related), and ESG. In 2021, Raw Knowledge launched providing the largest and highest quality securities and corporate actions database, offering tailored support for offshore fund reporting. We introduced Thought Train in 201621 as a quick prototyping and minimum viable product generator. Thought Ventures was established late lastthis year to invest in trailblazers not limited to financial services. It uses data, products and learnings from adjacent markets and even completely different markets to accelerate the digital leap required in financial services. We have already invested in two start-ups and are progressing another three for the remainder of the year.

What can we hope to see from ITL in the future?

We’re focused on fast-tracking adjacent and disruptive innovation for the industry. Our aim is to develop a comprehensive marketplace which offers a range of solutions, products and services and provides an ecosystem where stakeholders can come together to add value and collaborate. Moving forward, we need to create a transparent and connected customer experience for investors that aligns with their individual needs.